Today 09/30/2016 - 05:35:16 PM
Peugeot SA 13.595€
CAC 40 4,448.26 PTS
In first-half 2013, global automobile markets expanded by 3%, a slight increase that masks important differences, with declines of 7% in Europe and 5.5% in Russia, but growth of 6% in Latin America and 16% in China, the world's largest automobile market.
In Europe, the situation varied greatly from one country to another. Southern European markets continued to contract, dropping 11% in France, 5% in Spain and 11% in Italy, with Germany also reporting a decline of 8% for the period. In the United Kingdom, however, the automobile market grew by 10%.
Sales of assembled vehicles totalled 1,460,000 units, declining by a limited 1.1%. Sales of CKDs in Iran, which came to 142,000 units in the previous year, were suspended in February 2012, following the tightening of international sanctions.
In Europe, in a car and light commercial vehicle market that declined by 7%, PSA Peugeot Citroën sold a total of 855,000 vehicles, down 13% compared with first-half 2012. The Group's share of the market came to 12.2%, versus 12.9% in the prior-year period, mainly because of:
In a sustainably depressed European environment, the Group successfully launched new models in the first half.
More than 420,000 units of the Peugeot 208 have already been produced in Europe and Brazil, barely one year after its market rollout. In all, 400,000 units were sold.
Orders for the Peugeot 2008, whose launch date was moved up by four weeks, are substantially ahead of target, totalling more than 29,000 vehicles since its market introduction in mid-May. To meet this strong demand, the pace of production will be increased at the Mulhouse plant, with the addition of a new shift. The 2008 will also be produced in China, beginning in 2014, and in Brazil, in 2015.
Brought to market in June the new five-seat C4 Picasso has already been ordered by more than 8,000 customers. The model is the first illustration of a vehicle built on the Group's new EMP2 platform, dedicated to C and D segment vehicles, which offers greater competitiveness as well as a 22% reduction in CO2 emissions.
Other recent successes include the Peugeot 301 and the Citroën C-Elysée, brought to market in late 2012. Both have already surpassed their targets, with sales of more than 42,000 units for the former and 29,000 for the latter.
The Citroën DS line continued to perform well, with more than 360,000 vehicles sold since its launch.
Nearly one out of five PSA Peugeot Citroën vehicles are in the premium vehicle category, thus confirming the success of the Group's upmarket strategy.
The solid sales performance of the DS line is one illustration. The same is true for the upscale, sporty versions of the Peugeot 208 and the Peugeot 208 XY and GTi.
At 73%, the high trim level mix for orders of the 2008 is another example, as is the high percentage of registrations (16%) for hybrid versions of the 508.
Thanks to strong sales of its four models equipped with HYbrid4 technology (the Peugeot 508, 508 RXH and 3008 and the Citroën DS5), PSA Peugeot Citroën maintained its position as Europe's leading manufacturer of hybrid vehicles and its second-place ranking in terms of sales, with a 16.11% share of the European hybrid market.
Record sales in China
In China, PSA Peugeot Citroën is growing twice as fast as the market. The Group's sales totalled 278,000 units, an increase of 33% in a market that expanded by 16%. This record sales performance corresponds to a market share of nearly 4%. The Peugeot 3008 has also proven very popular, with over 25,000 billings recorded in six months. The Citroën C4L already generated more than 20,000 billings in the six-month period, even though the major 1.8-litre version was only launched in May.
In the second half of 2013, DPCA, the joint venture launched by PSA Peugeot Citroën and China's Dongfeng, will launch two new models in the local market: the Citroën C-Elysée and the Peugeot 301, both produced at the Wuhan site in a third plant that was inaugurated on 2 July. The plant will increase the joint venture's production capacity, in the long term, to 750,000 units a year. DPCA is aiming for a market share of 5% in 2015.
In addition, the CAPSA joint venture with Changan will begin local production of the Citroën DS5 in the second half of 2013 at the Shenzhen facility, which will offer capacity of 200,000 vehicles per year at full operation. In April, the first flagship showroom dedicated to the DS line was inaugurated in Shanghai.
Strong sales dynamic in Latin America
The Latin American automobile market continued to expand in first-half 2013, with sales rising 6% compared with the prior-year period. PSA Peugeot Citroën performed even better, posting a sales increase that was more than twice that of the market as a whole. The Group sold some 146,000 units in the region, up 20% over first-half 2012. The new brand positioning strategy and the launch of new vehicles have already produced results. In particular, the Group outgrew the market in Argentina (up 30%), Chile (up 35%) and Mexico (up 32%).
In Brazil, 7,500 units of the Peugeot 208, produced locally and brought to market in April, have already been sold, surpassing the Group's initial objective. The release of the 208 completes the revitalization of the product line and marks the beginning of PSA Peugeot Citroën's recovery in the region's largest market. The Group's first-half results in Brazil were stable.
In the second half, the rollout of the 208 in Argentina and the launch – in both Brazil and Argentina – of the new Citroën C4 Lounge sedan produced at the Palomar plant will further strengthen the Group's dynamic.
Russia: a difficult start to the year but several major vehicle launches to come
The Russian market has declined since the beginning of 2013. Against this backdrop, the Group's sales dropped by 22% to 32,000 units in the first six months of the year. During the period, PSA Peugeot Citroën focused on strengthening its line-ups, introducing four new models in the market. With the market launches of the Citroën C4 Sedan (the Group's second vehicle produced entirely locally), the Peugeot 208, and the Peugeot 301 and Citroën C-Elysée notchback sedans, the Group has extended its offer to key new market segments. This marketing dynamic is expected to have a positive impact on the Group's results in the months ahead.
Rest of the world: sales up 23%
In the rest of the world, the Group's sales rose by 23%, led by the success of the Peugeot 301 and the Citroën C-Elysée. In Algeria, for example, registrations rose by more than 66% to 58,400 units, lifting PSA Peugeot Citroën's market share to 22.8%. In Turkey, the Group sold over 30,100 vehicles, an increase of more than 20% compared with first-half 2012, in a market that expanded by 11.5%.
The Group's assertive sales and marketing program will continue in the second half. For the full year, seventeen vehicles will be launched, of which nine in Europe and eight in the rest of the world.
In Europe, the new Peugeot 308 and the new seven-seat C4 Picasso will be brought to market in the fall.
The second half will also see the launch of the new turbo version of the EB engine, of which 200,000 units have already been produced at the Trémery plant, as well as the Blue HDi exhaust system that will enable the Group's diesel-powered vehicles to comply with the Euro VI standard scheduled to take effect in late 2014.
The sustained pace of new rollouts will enable the Peugeot and Citroën ranges to maintain a relatively low average age of 3.8 years in 2013
1Europe = European Union and European Free Trade Association